Obamacare Is Killing the Economy

obama careA new report out from the Heritage Foundation reveals a not-so-startling correlation between Obamacare and the halted economic growth we’ve seen over the last year. Heritage points out that the economy was recovering after the recession, right up until the spring of 2010.

When Obamacare was passed and signed into law.

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Instead of the predicted Recovery Summer, we saw unemployment reach historic heights. It turns out that the best way to ensure that employers won’t hire any new employees is to burden them with taxes and fees and mandates and make sure they have no idea how the sweeping legislation will affect their bottom line.

Businesses like Starbucks and IHOP have said they are hesitant to expand operations due to the current climate of economic uncertainty. Home Depot co-founder Bernie Marcus goes as far as to say Obama is ‘choking the economy.’

The slowdown in economic recovery correlates exactly to the time-frame that Obamacare was made law. Before April 2010, 67,600 jobs a month were being created. After that month, growth slowed to 6,400 jobs created a month. A full third of small businesses say that Obamacare is their number one obstacle in hiring new people. 

The only way to grow our economy is to cut taxes and regulations and let businesses get back to doing business without worrying that the government will come in and demand that they shut down because they may or may not have violated a contract with a union by expanding in a right-to-work state. That actually happened to Boeing, by the way.

The entitlements are too much. You can only ask the rich to sacrifice so much before they decide it’s not worth it and they take their toys and go to China. “The problem with socialism,” as the highly quotable Margret Thatcher said, “is that you eventually run out of other people’s money.”

 

Image via Fibonacci Blue/Flickr

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